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Jordan Belfort Age, Wiki, Networth, Career & Relationship
Jordan Belfort’s net worth: Jordan Belfort is a former stockbroker, author, and motivational speaker who was convicted of a felony.
Jordan Belfort’s net worth is -$100 million as of this writing. Between 1989 until 1996, he was the CEO of Stratton Oakment, a financial corporation that conducted pump-and-dump operations that scammed unsuspecting victims of hundreds of millions of dollars.
Belfort and Danny Porush, the firm’s co-founders, were indicted for securities fraud and money laundering in 1999. They both entered guilty pleas. In exchange for cooperation with prosecutors, their sentences were lowered.
Jordon Belfort Wiki, Age & Net worth
Jordan Belfort is a former stockbroker, author, and motivational speaker who was convicted of a felony. Jordan Belfort’s net worth is -$100 million as of this writing.
Between 1989 until 1996, he was the CEO of Stratton Oakment, a financial corporation that conducted pump-and-dump operations that scammed unsuspecting victims of hundreds of millions of dollars.
Belfort and Danny Porush, the firm’s co-founders, were indicted for securities fraud and money laundering in 1999. They both entered guilty pleas. In exchange for cooperation with prosecutors, their sentences were lowered.
In the year 2007, In 2007, he released his memoir, “The Wolf of Wall Street.” It was adapted into a film starring Leonardo DiCaprio with the same title.
In 2013, the film was released. “Boiler Room,” a 2000 film roughly based on Belfort and his former financial firm Stratton Oakmont, was loosely based on Belfort and his previous financial firm Stratton Oakmont.
Fans of the film will be disappointed to learn that Jordan Belfort was never referred to as “the Wolf of Wall Street” during his financial scheming days.
Jordan came up with the moniker while writing his biography from prison. Jordan was allegedly given the name by a Forbes reporter in 1991, according to the film.
The Forbes piece was actually titled “Steaks vs. Stocks: What’s the Difference?” — a reference to the fact that Belfort used to sell steaks and seafood door-to-door on Long Island before becoming a stock broker.
Jordan was later portrayed as a “twisted Robin Hood” who “takes from the rich and gives to himself and his merry band of brokers,” according to the report.
His business style was also described in the report as “selling risky stocks on naive investors.” The majority of his victims were not wealthy.
They were low-income individuals who couldn’t afford to lose the money they had.
Jordan Early Life
Jordan Ross Belfort was born on July 9, 1962, in The Bronx, New York. He grew up in a Jewish family in Bayside, Queens.
During the summer between high school and college, Belfort and a close friend made $20,000 selling Italian ice from coolers to tourists on the beach.
Belfort earned a bachelor’s degree in biology from American University.
He enrolled in the University of Maryland School of Dentistry. After a faculty member told him that being a dentist wasn’t a way to get rich, he left after the first day of classes.
Career
On Long Island, New York, Belfort sold meat and seafood door-to-door. His meat-selling business developed from a one-man operation to a company with many employees and weekly sales of 5,000 pounds of beef and fish.
He filed for bankruptcy when he was 25 and got a job as a stockbroker trainee at L.F. Rothschild.
Belfort’s first supervisor allegedly taught him that masturbation, cocaine, and hookers were the keys to success. After the 1987 Black Monday stock market crash, he was laid off from this company.
Despite this failure, Belfort remained enthralled by the prospect of generating as much money as the more senior stockbrokers.
Belfort worked for a number of financial organisations in the late 1980s, soaking up as much information as he could. He polished his sales pitch and decided to start his own company in 1989.
Stratton Oakmont was founded by Belfort in the early 1990s. In a boiler room environment, the company sells penny stocks. Belfort defrauded his investors by using a pump-and-dump technique.
Belfort had over 1,000 stockbrokers and over $1 billion in assets under management at the height of Stratton Oakmont’s boom.
The National Association of Securities Dealers, on the other hand, was after Belfort and Stratton Oakmont. The firm’s dealings were being extensively scrutinised by the association.
The National Association of Securities Dealers then threw Stratton Oakmont out of its membership in December 1996, and the firm went out of business.
Belfort is said to have laundered his money through Swiss banks. His mother-in-law and his wife’s aunt both assisted in the money smuggling.
He reportedly threw parties with midget-tossing contests while running Stratton Oakmont.
Legal Concerns
In 1999, Belfort was charged with securities fraud and money laundering. In exchange for a plea deal with the FBI, he spent 22 months of a four-year term. Investors lost $200 million as a result of his financial swindles.
Restitution
In 1998, Belfort was charged with money laundering and fraud. He was sentenced to roughly two years in prison after being convicted of securities fraud and money laundering.
He was also ordered to repay $110 million of the $200 million he stole from over 1,500 customers. He has only repaid about $10 million of the $110 million so far.
Career as a Motivational Speaker
Belfort has reinvented himself as a motivational speaker since his release from prison. Global Motivation, Inc. was the name of the company he founded. He travelled roughly three weeks a month, giving talks about the necessity of corporate ethics and learning from failures.
In the 1990s, for example, he believed he was justified in breaking financial regulators’ laws because so many others had done so. It will cost you between $30,000 and $75,000 to secure a speaking event with Belfort.
A sales seminar with him can cost up to $80,000. His speeches haven’t earned the finest reviews, with some reacting adversely to his allegations of breaking financial restrictions in the 1990s.
Writing Career
Belfort’s memoirs “The Wolf of Wall Street” and “Catching the Wolf of Wall Street” have been translated into 18 languages and have been published in over 40 countries.
The film adaptation of “The Wolf of Wall Street” starred Leonardo DiCaprio, Jonah Hill, and Margot Robbie. The film was directed by Martin Scorsese.
In 2017, he also published “Way of the Wolf: Become a Master Closer with Straight Line Selling.”
Personal life
Belfort lived a luxury lifestyle and threw several parties throughout his time at Stratton. He was also a recreational drug user, particularly of methaqualone, or quaaludes.
During his stay at Stratton Oakmont, Belfort and his first wife, Denise Lombardo, divorced. From 1985 to 1991, they were married.
Tommy Chong, Belfort’s prison cellmate, was the one who inspired him to write “The Wolf of Wall Street.”
In 1991, he married British-born model Nadine Caridi. They were introduced at a party. Chandler and Carter were their two children. They divorced in 2005 after she accused him of domestic violence (presumably drug-related).
Belfort purchased the luxury yacht Nadine, which was created for noted fashion designer Coco Chanel in 1961. The yacht was renamed after his second wife. In June 1996, the ship sank off the coast of Sardinia.
The Italian Navy’s Special Forces rescued everyone on board the yacht. Belfort later admitted that, despite the captain’s advise, he insisted on sailing the yacht in severe gusts.
Belfort began dating Anne Koppe in 1928. In 2015, they got engaged. They are still dating but not married as of 2020.
Belfort has been compared to Bernie Madoff, the infamous Ponzi scheme culprit.
Near the end of “The Wolf of Wall Street,” Belfort makes a cameo appearance.
Bo Dietl, his former director of security, said in an interview that he never saw Belfort sober while working for him and that Belfort had deep ties to the mob.
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